Decline after last week’s price peak

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High prices attract more fish.

“It has been a bad week for us. There will be a lot more fish. That’s what’s happening. None of the customers confirm. We are calming down a bit,” said an exporter to SalmonBusiness.

“We can not pay to sell fish. The exporters have lost a lot of money this week, and that can not continue,” he added.

Facts

Every Friday after lunch, SalmonBusiness report spot prices for salmon. These are fish to be delivered the following week. We contact several links in the value chain, including farmers, exporters and importers, and always have at least five independent sources, although not all sources are necessarily displayed. We vary the sources we use and do not use the same sources each time.

Price peak
Friday is the big shopping day for salmon. One week ago, spot prices were at the highest levels of the year, especially for the heaviest weight classes.

“Last Friday it was bought at 73-74 kroner (EUR 7.3-7.4) on average, and then large parts of the market disappear,” he said, and added the following about next week’s salmon prices: “It will go down, there is no reason to doubt.”

All sources SalmonBusiness has spoken to after lunch today confirm falling prices.

“I hear 65-70 kroner (EUR 6.5-7.0). A large increase in volume is expected next week. People are hesitant,” said an importer.

“There is still a lot of downgraded fish,” he said, and added that the prices for Chilean salmon are rising, for imports to Europe.

Tense
“Down 2-3 kroner (EUR 0.2-0.3), as it looks at the moment,” said an exporter, and refered to prices around NOK 70 (EUR 7).

Another exporter describes the market as “tense”.

“The prices were very strong, and there has been pressure. I think the sizes are going to get closer [in price] to each other this week. The big fish will not get the same price premium, because the markets are not ready for that,” he said.